Tessco Technologies Inc Stock Price, News & Analysis

TESSCO Technologies Incorporated (NASDAQ: TESS) has appointed two new members to its Board of Directors: Steven T. Campbell and Vernon Irvin. Campbell, with a background in strategy, finance, and supply chain, previously served as Executive Vice President at United States Cellular Corporation. Irvin, the Executive Vice President at Everbridge, brings over 30 years of sales leadership in enterprise and SaaS. This addition aims to enhance TESSCO's strategic direction and improve customer-focused operations.

TESSCO Technologies (NASDAQ: TESS) has joined the Nokia Global Partner Program, enhancing its offerings in the wireless infrastructure sector. This partnership allows TESSCO to promote Nokia’s extensive product and service portfolios tailored for the industrial market, including fixed networks and industrial-grade wireless solutions. The collaboration aims to address critical communication needs across various applications, such as smart grids and last-mile connectivity. TESSCO emphasizes its commitment to delivering robust and integrated solutions to simplify deployments for its customers.

TESSCO Technologies reported fiscal Q1 2022 revenues of $105.0 million, a 9% increase year-over-year. Sales bookings surged 37%, indicating a strong recovery post-pandemic. Despite industry supply-chain issues delaying shipments, the company is confident about fulfilling orders later in the year. The net loss narrowed to $2.2 million from $4.9 million in the previous year, with an adjusted EBITDA loss of $1.1 million. TESSCO aims for improved profitability and market demand growth through its turnaround strategy in the Carrier and Commercial markets.

TESSCO Technologies Incorporated (NASDAQ: TESS) plans to report its financial results for the fiscal first quarter ending June 27, 2021, after the market closes on July 27, 2021.

Management will discuss these results in a conference call on July 28, 2021, at 8:30 a.m. ET. Participants can join the call by calling 877-824-7042 (domestic) or 647-689-6625 (international). A live webcast will also be available on the Company’s Events & Presentations page. An archived version will be accessible for one year.

TESSCO Technologies (NASDAQ: TESS) reported preliminary financial results for Q1 FY2022, with anticipated revenues of approximately $105 million, marking a 9% year-over-year growth. Sales bookings surged by 37% year-over-year, fueled by a 64% increase in the public carrier market. Despite a projected pre-tax and adjusted EBITDA loss for the quarter, TESSCO's operating plan aims for full-year revenues between $408 million and $442 million, and a net loss reduction targeting $6.5 million to $4.1 million.

TESSCO Technologies (NASDAQ: TESS) announced that its management will present at the virtual Sidoti Microcap Conference on May 20, 2021, starting at 9:15 a.m. ET. President and CEO Sandip Mukerjee and CFO Aric Spitulnik will lead the presentation, with opportunities for one-on-one meetings with investors. A webcast link will be available in the Events & Presentations section of the Company’s investor relations website. An archive of the presentation will be accessible for 90 days.

TESSCO Technologies Incorporated (NASDAQ: TESS) announced the launch of its new Femto Patch Antenna, the smallest dual-band antenna in the market, ideal for both indoor and outdoor use. The antenna measures less than 3 ½ inches square, about a third of the size of comparable products. This product is part of Ventev's Aesthetic Wi-Fi™ line, focusing on high performance and aesthetic integration. General Manager Thad Lowe emphasized the antenna's ability to provide excellent coverage while blending seamlessly into environments.

TESSCO Technologies reported Q4 and FY 2021 results, with revenues of $88.7 million for Q4, down 16% year-over-year, and FY revenues of $373.3 million, a 9% decline. Despite challenges from the pandemic and global supply chain issues, bookings increased 19% in H2 FY 2021 compared to H1, with record sales backlog. The company divested its retail division, focusing on the more profitable commercial business. Management expects a better macroeconomic environment and improved revenues in FY 2022.

TESSCO Technologies (NASDAQ: TESS) will release its fiscal fourth quarter results for the period ending March 28, 2021, after market close on May 10, 2021. A conference call to discuss these results is scheduled for May 11, 2021, at 8:30 a.m. ET. Participants can join via domestic or international call-ins. A live webcast will also be accessible on the Company's Events & Presentations page. TESSCO focuses on delivering industry-leading products and solutions within the wireless infrastructure ecosystem, with over 30 years of experience in the sector.